Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Staff Reporter A section of the National Co-operatives (NACOS) and the co-operative sector players in general have voiced concerns over lack of a Principal Secretary (PS) in the State Department of Co-operatives. The concerns come weeks after immediate former PS Ali Ismail left office over failure to be re-appointed by President Uhuru Kenyatta when…
By Erick Nyayiera Members of Taraji Sacco in Siaya County are up in arms with the management over continued losses amounting to millions of shillings on a hotel investment over the last three years. The agitated members while speaking during this years’ annual general meeting held in Siaya town, accused the management over what they…
By Our Reporter Frustrations from banks have forced Kisii County contractors to form a saving and credit society. This is to help the 100 members to access money at reasonable interest rate. Most contractors have their equipment confiscated due to unpaid loans. Kisii County Contractors Association chairman Ken Mariera said they have problems with banks…
By Our Reporter Jau Kali business people have formed a saving and credit society to boost their businesses. Mwanyagetinge Sacco, which is registered, will enable the business get cheap financing. Gael Ombiro, one of the Sacco founder members said they will soon recruit qualified accountants to ensure accountability and transparency in execution of its duties….
By Our Reporter Stima Sacco has opened a new branch in Embu town. Sacco’s National Chairman Ken Tarus said they also plan to establish an insurance agency. This is to tap into growing insurance market share. “The Sacco will also re-focus on the energy and allied sectors to grow the loan book,” said Tarus. Stima…
By Stephen Makabila Under the Big 4 Agenda of President Uhuru Kenyatta’s last five years in office ahead of his retirement in year 2022, the co-operative sector is expected to be instrumental in the achievement of these agenda namely- Food Security, Affordable Housing, Manufacturing and affordable Health Care for all. The Co-operative sector is supposed…
By Godfrey Wamalwa Busia County Executive Committee Member for Trade, Co-operatives and Industrialisation Judith Maketso has lauded the management of Magombe Multipurpose Co-operative for the job well done. “Behind the floods in Budalangi there is something beautiful with potential that requires support from all the stakeholders,” she said. Maketso said the county government will fund…
By Azael Masese Failure by co-operative members to interrogate the performance of their respective organisations has been identified as a weakness that needs urgent remedy. Intriguingly, this happens even in Savings and Credit Cooperative Organisations (Saccos) where majority of the members are the elite, leading to embezzlement of members’ savings. State Department of Co-operatives Senior…
By Benedict Ng’etich Sinendet Tea Multi-Purpose Co-operative Society posted a net surplus of Sh36 million in 2017 and asset growth of Sh608.3 million. This was despite leaf production decrease by 8.01 per cent to 4.52 million kilogrammes in the year. “This drop is attributed largely to the labour strikes which were prevalent in the country…
